Common use of CLIENT ASSET Clause in Contracts

CLIENT ASSET. 7.5.1 All money transferred to Doo Prime by the Client shall be known as “Client Asset” for the purposes of this Agreement. 7.5.2 The Client Asset shall be held on trust by Doo Prime for the Client and the Client Asset shall be segregated from Doo Prime’s bank account at all times. Doo Prime may hold the Client Asset and the money of other clients in the same account and it might not be possible to clearly segregate the Client’s Money from the other client. Doo Prime shall retain the necessary records and Client Account details to distinguish this. 7.5.3 The Client acknowledges that Doo Prime may hold or deduct Client Asset on the Client’s behalf in an account with an approved bank or third party where: (a) the account may be subject to set-off rights, security or lien by Doo Prime, the bank or third party, or Doo Prime is required to do so by any regulatory authority; and (b) in the event of the insolvency of the bank or the third party, Doo Prime shall not be liable for any loss or damages against the Client. 7.5.4 It is not Doo Prime’s policy to pay interest on the Client Asset within the Account. The Client acknowledges and agrees in waiving any entitlement to any interest from the Client Asset. 7.5.5 Doo Prime may without prior notice, apply and/or transfer any or all funds in the Account in order to settle the Client’s present, future or contingent liabilities owed to Doo Prime. 7.5.6 The Client consents in Doo Prime retaining any interest acquired from the Client Asset subject to Applicable Statutes And Regulations.

CLIENT ASSET. 7.5.1 All money transferred to Doo Prime by the Client shall be known as “Client Asset” for the purposes of this Agreement. 7.5.2 The Client Asset shall be held on trust by Doo Prime for the Client and the Client Asset shall be segregated from Doo Prime’s bank account at all times. Doo Prime may hold the Client Asset and the money of other clients in the same account and it might not be possible to clearly segregate the Client’s Money from the other client. Doo Prime shall retain the necessary records and Client Account details to distinguish this. 7.5.3 The Client acknowledges that Doo Prime may hold or deduct Client Asset on the Client’s behalf in an account with an approved bank or third party where: (a) the account may be subject to set-off rights, security or lien by Doo Prime, the bank or third party, or Doo Prime is required to do so by any regulatory authority; and (b) in the event of the insolvency of the bank or the third party, Doo Prime shall not be liable for any loss or damages against the Client. 7.5.4 It is not Doo Prime’s policy to pay interest on the Client Asset within the Account. The Client acknowledges and agrees in waiving any entitlement to any interest from the Client Asset. 7.5.5 Doo Prime may without prior notice, apply and/or transfer any or all funds in the Account in order to settle the Client’s present, future or contingent liabilities owed to Doo Prime. 7.5.6 The Client consents in Doo Prime retaining any interest acquired from the Client Asset subject to Applicable Statutes And Regulations. 7.5.7 Subject to Applicable Statutes and Regulations, Doo Prime is authorised by the Client to lend, pledge, or re-pledge the securities, assets and investments of the Client (either individually or jointly with assets belonging to other clients) to Doo Prime or other clients, for any amount due in any Account in which the Client maintains an interest, without any prior written notice. In addition, Doo Prime may receive financial or other benefits by loaning the securities and assets of the Client and Doo Prime may retain such benefits without disclosing the amount of or otherwise accounting for such benefits to the Client.